GBPCAD GBP/CAD
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- -0.00085-0.05%
GBP/CAD News
Canadian Dollar Brushes off Low-tier Data Misses to Find Mild Recovery on Friday
The Canadian Dollar (CAD) found a thin recovery on Friday, gaining ground against most of its major currency peers and clawing back a scant tenth of a percent against the US Dollar (USD).
Statistics Canada Reports Manufacturing Sales up 1.1% at $70.8B in April
The increase followed a decline of 1.8 per cent in March.
United Kingdom's central bank: Even if inflation falls, more British people predict a rate hike rather than a rate cut.
Although the United Kingdom's inflation expectations have dropped to 2.8%, the lowest since August 2021, the public is not yet convinced that interest rate cuts are underway.
Britons Expect Rate Rises Even as Inflation Falls, BOE Says
UK inflation expectations fell to the lowest in three years, but the public is yet to be convinced interest-rate cuts are under way.
Inflation pressure still exists. The Bank of England is expected to continue to hold steady next week.
For British Prime Minister Sunak, the hope that the Bank of England will cut interest rates before the election may be dashed because inflationary pressures in the UK appear to be too great for the Bank of England to cut rates at its policy meeting on June 20.
Canada's central bank cuts interest rates against the trend, experts call for continued adjustment of interest rate policies and vigilance against the weakness of the Canadian dollar.
The Bank of Canada stated, "Overall, recent data suggests that the economy is still running in an over-supplied situation." Only two interest rate cuts by the Bank of Canada have been priced in by the market from now until the end of this year. However, the major risk in the future is the weakness of the Canadian dollar.
Canadian Dollar Pares Away Gains on Thursday
The Canadian Dollar (CAD) pared back recent gains against the US Dollar (USD) on Thursday, shedding a quarter of a percent against the USD as market flows pull back to safety and bolster the Greenback.
BoC's Kozicki: BoC to End Quantitative Tightening in 2025
Bank of Canada (BoC) Deputy Governor Sharon Kozicki noted on Thursday that the BoC is set to end its quantitative easing program and that future applications of QE will have a very high bar to pass before accessing additional monetary policy mechanisms.
UBS Now Sees Bank of England Starting to Cut Rates in August Vs. Earlier View of June
UBS said it shifted its call for the first Bank of England (BoE) rate cut from June to August, implying no change from the Monetary Policy Committee (MPC) at the next meeting on June 20.
Pound Sterling Edges Higher After April GDP Stalls in Line With Expectations
Pound sterling edged higher against a softer US dollar and rose against some other major currencies in early European trade on Wednesday after government data showed the UK economy stalling in line with expectations in April.
U.K. Is Growing, Though Trend Is Unclear -- Market Talk
The U.K. is likely to grow over the second quarter despite stagnation in April, ING economist James Smith writes in a note.
Pound Sterling Steadies After UK GDP Data Shows Economy Stalled in April
The Pound Sterling (GBP) rallies to near 1.2850 against the US Dollar (USD) in Wednesday’s New York session.
UK Economy Stalled in April After Wet Weather Held Back Retail
A rebound from last year’s recession appears to be losing momentum after the highest interest rates in 16 years continued to weigh down the finances of both businesses and consumers.
UK GDP Arrives at 0% MoM in April, as Expected
The UK economy stalled in April, with GDP arriving at 0% after expanding 0.4% in March, the latest data published by the Office for National Statistics (ONS) showed on Wednesday. Markets expected no growth in the reported period.
In May, 50,000 people were laid off in the United Kingdom, but the salary increased to 5.9%, making the outlook for the Bank of England's interest rates more complex.
In May, the United Kingdom laid off 50,000 people, and the unemployment rate rose to 4.4%. The average income, including bonuses, increased from 5.7% to 5.9%. The Bank of England will formulate policies next week, and may lay the foundation for economic recovery by reducing interest rates in the second half of the year as overall inflation decreases.
As of April, the United Kingdom's unemployment rate for the first three months is 4.4%, the highest in two and a half years.
As of April, the UK's unemployment rate for the three months unexpectedly rose to the highest level in more than two and a half years, while the pressure for pay rises in the private sector eased, further proving that inflationary forces are weakening. The UK's National Statistics Office said on Tuesday that the unemployment rate rose to 4.4% in the three months to April, the highest level since mid-2021. The average weekly wage growth in the private sector was 5.8%, the lowest level in two years, despite a nearly 10% increase in the minimum wage. These data give hope to policymakers at the Bank of England that they may begin to cut interest rates at the end of this summer, led by Governor Andrew Bailey and other officials.
UK Unemployment Rises in Sign Inflationary Pressures Cool
Job vacancies dropped by 12,000 in the quarter to 904,000, the 23rd consecutive fall. That’s still above levels before the Covid-19 pandemic hit.
UK Unemployment Rate Rises to 4.4% in Quarter to April Vs. 4.3% Expected
The UK Unemployment Rate rose to 4.4% in three months to April.
Pound Sterling Falls as Traders Rollback Fed Rate-cut Bets
The Pound Sterling (GBP) seems vulnerable against the US Dollar (USD), slightly below the round-level support of 1.2700 in Monday’s New York session.
Bank of Canada cuts rates ahead of time, analyst says interest rate spread may lead to depreciation of the Canadian dollar.
This week, the Bank of Canada cut its policy rate by 0.25 percentage points, but people began to question how much the gap between the key interest rates of the two countries would widen as it is expected that the Federal Reserve will hold the overnight interest rate steady until autumn.